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It is understood the decision to focus on the short duration market follows a strategic review of the European bond fund range undertaken by Zahn and his team shortly after his appointment.

Speaking to Citywire Global at the time, Zahn said: ‘We are looking to see if there is something missing and we are seeing if we need to do anything different.’

‘We have a lot of blockbuster funds but I don’t think that people know of our full capabilities on the European fixed income side.’

A spokesperson for Franklin Templeton confirmed the European short duration bond market is an area in which the company is assessing opportunities but stressed any plans for a fund are at a purely conceptual stage.

Details of when any fund in this market would formally be launched have yet to be revealed, as well as which member of the European fixed income team would be charged with running the new approach.

New hire

Also, Franklin Templeton intends to hire a senior portfolio manager to work alongside Zahn and co-manager John Beck across a number of fixed income portfolios.

This move was formally revealed by Zahn at an investor conference meeting in London on Tuesday. However, Zahn declined to reveal any details beyond the fact they were looking to add another manager.

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